Maxim Group Cuts NV5 Global (NASDAQ:NVEE) Price Target to $24.00

NV5 Global (NASDAQ:NVEE) had its price objective decreased by Maxim Group from $29.00 to $24.00 in a report published on Friday,Benzinga reports. Maxim Group currently has a buy rating on the business services provider’s stock.

Several other equities research analysts have also recently commented on the stock. StockNews.com cut shares of NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Robert W. Baird reduced their price objective on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, Roth Mkm upped their target price on shares of NV5 Global from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.67.

NV5 Global Stock Up 1.8 %

NASDAQ:NVEE opened at $17.75 on Friday. The stock’s fifty day moving average price is $18.48 and its two-hundred day moving average price is $21.31. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 2.63 and a beta of 1.23. NV5 Global has a 52-week low of $16.77 and a 52-week high of $27.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05.

NV5 Global (NASDAQ:NVEE) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $246.52 million for the quarter, compared to analyst estimates of $243.46 million. NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. On average, analysts anticipate that NV5 Global will post 1.26 EPS for the current year.

NV5 Global announced that its Board of Directors has approved a share repurchase plan on Monday, January 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.08, for a total value of $401,600.00. Following the completion of the sale, the vice president now owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NV5 Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas raised its stake in NV5 Global by 300.0% during the 4th quarter. BNP Paribas now owns 1,400 shares of the business services provider’s stock worth $26,000 after buying an additional 1,050 shares during the period. Sterling Capital Management LLC raised its position in shares of NV5 Global by 3,320.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,505 shares of the business services provider’s stock worth $28,000 after purchasing an additional 1,461 shares during the period. Blue Trust Inc. lifted its holdings in shares of NV5 Global by 287.7% during the 4th quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 1,864 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of NV5 Global by 296.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 2,680 shares during the period. Finally, KBC Group NV raised its holdings in NV5 Global by 527.5% during the 4th quarter. KBC Group NV now owns 4,223 shares of the business services provider’s stock worth $80,000 after buying an additional 3,550 shares during the period. 75.54% of the stock is owned by institutional investors.

NV5 Global Company Profile

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.